BUZZ-Baytex Energy Corp: Desjardins raises to "buy"

Fri Mar 6, 2015 12:30pm EST
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** Canadian oil and gas producer's shares up 2.9 pct at $14.35

** Desjardins raises to "buy" from "hold"; National Bank raises price target to $26 from $25

** Company reports 49 pct rise in Q4 petroleum and natural gas sales

** Desjardins analysts say they expect debt levels to be addressed through strategic transaction in near term

** Baytex's total long-term debt was C$1.42 bln as of Dec. 31; cash flow from operating activities was C$974.5 mln

** Of 7 analysts covering stock, 3 have 'buy' rating and 5 have 'hold'

** Up to Thursday's close, stock had fallen 62 pct in past 12 months